Christmas Sales reach record high!

Christmas spending has increased by 2.8 percent nationally, with a record $2.36 billion of sales forecast for Boxing Day alone.

Supply shortages could lead to price rises. Source: SBS

The Australian Retailers Association says the pre-Christmas spend is forecast to hit $50 billion, and the post-Christmas spend is expected to be $17.9 billion.

The group's executive director Russell Zimmerman says what has been different this year is the increase in last-minute gift buying.